Table 12-2 Consider the Tax Rates Shown in the Table Below

question 199

Multiple Choice

Table 12-2
Consider the tax rates shown in the table below.

-Refer to Table 12-2.If Mateo has taxable income of $165,000,his tax liability is

• A) $23,800.
• B) $36,000.
• C) $45,000.
• D) $47,698.

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Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using the same amount of resources.

Tariffs

Government levies on goods and services brought into the country, frequently employed to safeguard local industries against overseas rivals.

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.

Textiles

Materials made from fibers, filaments, threads, or yarns, typically used in the production of fabrics and cloth.